Often described as the most ‘unpopular tax’ inheritance tax seems to be perceived as unfair for many different reasons. Can this tax be simplified? The Chancellor asked the Office of Tax Simplification (OTS), an independent statutory body, to review the tax 18 months ago. As a result recommendations made recently will undoubtedly cause some ripples in the way assets are passed on!
Could we see a rewriting of the rules which have not changed for at least four decades?
Check out this article outlining a summary of recent IHT consultation from Taxbriefs|Client Communications: